Renault's latest car project called ULC (ultra low cost) is moving on a slow track. Renault is working on this project in joint venture with Bajaj Auto, India's leading two wheeler manufacturer.
According to a senior official of the company, “The ULC project which also had the involvement of Nissan is now independent and has stopped the product plan at its Chennai plant”.
Currently the French manufacturer has also slowed down its other projects across the globe including its factory in Morocco, which is still under development. Though the construction work at the Chennai plant continues, the product plan is put on hold.
With the halt at Chennai unit, the company is thinking of the various products that can be rolled out from its Nasik factory, which assembles the Logan in joint venture with the Indian car major Mahindra and Mahindra.